Retail Trade Policy & accident insurance scheme for GST traders on cards

New Delhi, Apr 24 (KNN) With the view to supporting GST-registered domestic traders, the Indian government is expected to announce a national retail trade policy and an accident insurance scheme soon, an official said.

“The government is trying to do policy changes not only in e-commerce but is also bringing a national retail trade policy for physical traders which will be introducing ease of doing business, providing better infrastructural facilities, providing more credit and all sorts of benefits to traders,” the official added.

As per reports, the retail trade policy is expected to include provisions related to ensuring easy and quick access to affordable credit, facilitating modernisation and digitisation of retail trade; modern infrastructural support for subjects like distribution chain; promotion of skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism.

Under the proposed policy, a single window clearance mechanism for traders may be developed, besides a centralised and computerised inspection management system.

Commenting on the development, the Confederation of All India Traders (CAIT) said the retail trade policy will certainly help the sector widen its business as it will have definite parameters and fundamentals within which the retail trade would be conducted.

India is the world’s fifth-largest global destination in the retail space.  (KNN Bureau)